“Sterling has a very appealing branch network which almost doubles our presence in Houston, provides an entry into the San Antonio market, one of the fastest growing metropolitan areas in the country, and complements our banking center network in Dallas-Fort Worth,” said Ralph W. Babb Jr., Comerica’s chairman and chief executive, in a statement.

Comerica’s branch network in Texas will expand to 152 from 95 with the deal. Comerica will have 13 branches in San Antonio, 65 in Houston, 63 in Dallas-Fort Worth and 11 in Austin, it said.

Under term of the deal, Sterling shareholders will receive 0.2365 shares of Comerica stock for every share of Sterling. The transaction is valued at about $1.03 billion. Sterling’s shares were changing hands at more than $9 in early trading Tuesday, up $1.40. Comerica’s shares, meanwhile, fell about $2.75 to $39.50.

Tuesday’s “announcement is consistent with our strategy of growth and balance,” Babb said. “It significantly balances our presence in Texas, one of the nation’s most attractive growth markets.”